Photo of Professionals at Weinberg, Kaplan & Smith, P.A.
Photo of Professionals at Weinberg, Kaplan & Smith, P.A.

3 ways people can protect themselves via prenuptial agreements

On Behalf of | Oct 21, 2024 | Divorce

Prenuptial agreements can be a very important form of protection for those beginning a marriage. By reaching certain agreements before formally entering matrimony, spouses protect themselves from scenarios in which they may have messy, expensive divorces.

They can protect themselves from personal hardship when a marriage ends. The details included in prenuptial agreements are largely customized. They need to reflect the unique circumstances and concerns of the spouses. That being said, there are certain forms of protection that people are more likely to integrate into a prenuptial agreement than others.

The preservation of specific assets

One of the biggest uncertainties during a divorce is how a judge might handle the property division process. Even property that people believe is separate could be subject to division in certain cases. Some people who already own certain resources, like real estate, vehicles or businesses, negotiate to establish those assets as separate property in the event of a divorce. Others may include preemptive clauses protecting an inheritance they expect to receive or a private practice that they might establish after they finish their graduate degrees.

Terms for support after personal sacrifices

Marriage means establishing a family and making mutual sacrifices for the benefit of everyone in the family. For example, one spouse might agree to stay home once a couple has children or if either spouse’s parents have medical emergencies. Such sacrifices reduce an individual’s long-term earning potential even if they are beneficial for the family unit as a whole. People can preemptively negotiate for certain alimony terms in a prenuptial agreement to ensure they don’t make sacrifices for the family that later make it difficult for them to live independently if they divorce.

Consequences for certain kinds of misconduct

Spouses occasionally decide to marry despite knowing that there could be issues in the relationship. Maybe one spouse previously had a substance abuse disorder or has a history of struggling with gambling. Concerns about infidelity might also inspire people to include penalty clauses and similar protective terms in a prenuptial agreement. Spouses can seek to protect themselves from the wasteful use of marital assets for destructive purposes including addictions and extramarital affairs. They can also potentially agree to specific penalties related to financial support or property division in the event that one spouse reaches that clause during the marriage.

A prenuptial agreement can help people keep things amicable when they know they must share custody after a divorce and can even help them limit how much they spend in pursuit of a divorce. Proposing a prenuptial agreement can be a way to strengthen a marital relationship and take some of the risk out of a divorce, in the event that one becomes necessary.

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